Subhadip's Feed
Aug 23, 2013

Rupee posts biggest gains in nearly a year

MUMBAI (Reuters) – The rupee rose 2.1 percent on Friday, its biggest jump in nearly a year, as equities posted strong gains for a second session and the Reserve Bank of India (RBI) was suspected to have sold dollars heavily late in the session.

However, the partially convertible rupee registered its second weekly loss, as investors fretted over fears of how the country will fund its large current account deficit as the U.S. Federal Reserve is expected to begin tapering its monetary stimulus.

Aug 23, 2013

Indian rupee posts biggest gains in nearly a year

MUMBAI, Aug 23 (Reuters) – The Indian rupee rose 2.1 percent
on Friday, its biggest jump in nearly a year, as equities posted
strong gains for a second session and the central bank was
suspected to have sold dollars heavily late in the session.

However, the partially convertible rupee registered its
second weekly loss, as investors fretted over fears of how the
country will fund its large current account deficit as the U.S.
Federal Reserve is expected to begin tapering its monetary
stimulus.

Aug 22, 2013

Rupee continues to struggle, hits life low at 65.56/dollar

MUMBAI (Reuters) – The rupee fell past 65 to the dollar to a record low on Thursday, after Federal Reserve minutes hinted that the U.S. was on course to begin tapering stimulus as early as next month and as foreign investors become sellers of Indian stocks.

In an ominous sign for Asia’s worst-performing currency this year, overseas investors who had been net buyers of Indian stocks so far in 2013 headed for the exits this week, selling a net $500 million worth of shares in the four sessions through Wednesday.

Aug 22, 2013

Indian rupee extends slump past 65/dollar to record low

MUMBAI, Aug 22 (Reuters) – The Indian rupee fell past 65 to
the dollar to a record low on Thursday, after Federal Reserve
minutes hinted that the U.S. was on course to begin tapering
stimulus as early as next month and as foreign investors become
sellers of Indian stocks.

In an ominous sign for Asia’s worst-performing currency this
year, overseas investors who had been net buyers of Indian
stocks so far in 2013 headed for the exits this week, selling a
net $500 million worth of shares in the four sessions through
Wednesday.

Aug 21, 2013

Indian rupee plunges to record low despite RBI intervention

MUMBAI, Aug 21 (Reuters) – The Indian rupee plunged to a
record low on Wednesday on heavy dollar demand from importers
and as traders fretted over mixed signals from the central bank
over its efforts to prop up the currency without choking off
economic growth.

The rupee fell 2 percent to a record low of 64.5450
to the dollar despite what traders said was sporadic central
bank intervention in both the spot and forward markets.

Aug 21, 2013

Rupee hits life low of 64.54 despite RBI intervention

MUMBAI (Reuters) – The rupee plunged to a record low on Wednesday on heavy dollar demand by importers and as traders fretted over mixed signals from the central bank over its efforts to prop up the currency without choking off economic growth.

The rupee fell nearly 2 percent to a record low of 64.54 to the dollar despite what traders said was sporadic RBI intervention in both the spot and forward markets.

Aug 21, 2013

Indian rupee at record low again despite RBI intervention

MUMBAI, Aug 21 (Reuters) – The Indian rupee plunged to a
record low on Wednesday on heavy dollar demand by importers and
as traders fretted over mixed signals from the central bank over
its efforts to prop up the currency without choking off economic
growth.

The rupee fell nearly 2 percent to a record low of
64.52 to the dollar despite what traders said was sporadic
central bank intervention in both the spot and forward markets.

Aug 21, 2013

Bonds soar, rupee still weak after RBI’s cash measures

MUMBAI (Reuters) – Government bonds were headed for their biggest gain in at least 15 years, while the rupee remained under pressure on Wednesday after the Reserve Bank of India (RBI) said it will buy bonds to ease a cash crunch, and relaxed bond holding rules for lenders.

Yield on the benchmark 10-year bond fell as much as 69 basis points to 8.21 percent as its price rose. It was last trading at 8.28 percent and headed for its biggest single day fall since at least 1998.

Aug 21, 2013

Indian bonds soar, rupee still weak after RBI cash steps

MUMBAI, Aug 21 (Reuters) – Indian government bonds were
headed for their biggest gain in at least 15 years, while the
rupee remained under pressure on Wednesday after the Reserve
Bank of India (RBI) said it will buy bonds to ease a cash
crunch, and relaxed bond holding rules for lenders.

Yield on the benchmark 10-year bond fell as
much as 69 basis points to 8.21 percent as its price rose. It
was last trading at 8.28 percent and headed for its biggest
single day fall since at least 1998.

Aug 20, 2013

Indian rupee hits record low before central bank lends support

MUMBAI (Reuters) – The Indian rupee fell past 64 to the dollar for the first time on Tuesday and bond yields spiked to a five-year high before the central bank stepped in to support the currency, as Asia’s third-largest economy bore the brunt of the global emerging markets selloff.

Underscoring how hard it is for New Delhi to push through reforms despite the urgency of a deteriorating economic outlook, parliament was adjourned on Tuesday due to protests by members over a corruption scandal.